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Two-day UP Investors Summit attracts investments worth Rs 88,000 crore during inaugural session

Two-day UP Investors Summit attracts investments worth Rs 88,000 crore during inaugural session

India Blooms News Service | | 21 Feb 2018, 04:38 pm

Lucknow, Feb 21 (IBNS): Leading industrial houses of India have pledged investment worth Rs 88,000 crore during the inaugural session of the UP Investors Summit 2018, which was inaugurated by Prime Minister Narendra Modi on Wednesday, in Lucknow, accoding to media reports.

The companies that assured investments over the next five years included Reliance Jio (Rs 10,000 crore), Adani group (Rs 35,000 crore), Aditya Birla Group (Rs 25,000 crore), Essel Group (Rs 18,750 crore) and Mahindra & Mahindra (Rs 200 crore), reported Hinudstan Times.

Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries Limited, said  that embracing the Prime Minister’s Digital India Mission is the way that will help India’s most populous state [Uttar Pradesh] to become India’s most prosperous state.

He said, "Which is why, Reliance has built a world-class digital Infrastructure all over India, including in UP, in less than two years. With an investment of Rs. 250,000 crore so far. Today I am happy to inform this audience that Jio is one of the largest investors in Uttar Pradesh with investments of over Rs. 20,000 crore. Jio is providing the highest quality data at the lowest price in the world to over 2 crorecitizens of Uttar Pradesh. We have completely reimagined and rebuilt the next-generation digital communication services."

"Jio will invest another Rs 10,000 crore in Uttar Pradesh over the next three years, " he said, "JioPhone will available for a nominal deposit of Rs 1500, which is refundable after three years -- for which Jio will make available over two crore JioPhones in UP within the next two months on a priority basis -- and Jio will establish a Centre for the Fourth Industrial Revolution within the campus of a reputed university in Uttar Pradesh," he said. 

Gautam Adani, Chairman, Adani Group said that he was glad to have been part of the  UP Investors Summit.

"Hon’ble Chief Minister, it is our commitment to stand with you on your journey of transforming Uttar Pradesh into a progressive and industrialized state," he said addressing Uttar Pradesh chief minister, Yogi Adityanath.

Kumar Mangalam Birla, Chairman, Aditya Birla Group,  said his group has "made an investment of Rs 24,000 crore in the state and have 15 manufacturing plants. We have created 40,000 direct and about 1 lakh indirect jobs."

He also said  his Group will invest Rs 25,000 crore in multiple businesses in the next five years, according to media reports.

Mahindra Group chairman Anand Mahindra said that if policies supported manufacturing of electric vehicles, the company may set up an electric vehicle manufacturing plant in UP and will invest Rs 200 crore in the Varanasi-Vindhya circuit.”

At the Summit, CM Yogi Adityanath also released a knowledge paper titled "Uttar Pradesh: Powering New India-Investment Opportunities Abound".

The Prime Minister and other dignitaries also visited the exhibition kiosks at the trade pavilion, reports said.

Earlier in the day, the Prime Minister in a tweet said, "Will be in Lucknow today, to take part in the UP Investors Summit, which will showcase the rich potential of UP to attract top quality investment. Under CM @myogiadityanath Ji, the state’s progress journey has got a strong impetus. @InvestInUp."

The event has been organized by Uttar Pradesh Government to showcase the investment opportunities and potential in the state.

Finland, Netherlands, Japan, Czech Republic, Thailand, Slovakia and Mauritius have been identified as country partners for the event. Several memorandums of understandings (MoUs) are expected to be signed during the summit.


Images: PIB